On Wednesday, Sony will hold what's being called a "PlayStation meeting" — an update on what's happening with PlayStation, and a potential platform to announce two new models of the PS4, according to the Verge. One is supposed to be a slim version of the PS4. The other is supposed to be much more exciting.

Codename "Neo"

In an interview with the Financial Times, Sony global CEO Andrew House said Neo, the codename of a souped-up model of the PS4, will have not only a faster processor, but 4K resolution support and better graphics. The Neo is supposed to be like the sport series of a sedan: a more powerful and more expensive version, not a replacement for the standard model.

The Neo is positioned to be a rival to Microsoft's more powerful Xbox One, called the Project Scorpio, a console reportedly four times more powerful than the standard edition.

@GameStop Hardware Sales Have Dropped 33.4% Because of the #PS4Neo, #ProjectScorpio - https://t.co/EVC20l59hZ

PS4 Slim

The Wednesday release event will also supposedly usher in the PS4 Slim, a leaner version of the PS4, but unlike the mystery shrouding Neo's capabilities, facts and stats on the Slim leaked faster than the Exxon Valdez. Hell, images of the Slim model started showing up weeks ago.

Looks like the unannounced PS4 Slim already has a teardown: https://t.co/fwZoLmUyDP

An upgraded DualShock 4

Amid the rumors of new consoles came substantially less-interesting — maybe even downright boring — rumors of an upgraded controller. The upgrade, according to the Verge, looks more like an aesthetic change, with a light bar now placed on the controller's face.

@Jed05 I am not sure that it's an additional light, It looks to be just a slim see through part on the touchpad which lets light through.

The announcement of a barely adjusted controller, if true at all, is the gaming announcement equivalent of unwrapping socks on Christmas.